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NEWS RELEASE For Immediate Release

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Contact: Joe McQueen
518-388-4772

Capital Region Land Bank Land Bank Wins Another Grant

$450,000 Will Support Neighborhood Revitalization Programs

Schenectady, N.Y., April 13, 2017 — The Capital Region Land Bank has received a $450,000 “Neighbors for Neighborhoods” grant from NYS Attorney General Eric Schneiderman. The grant will be administered by the Enterprise Community Partners. The funding is being provided from bank settlements won by the Attorney General.

“Just a few weeks ago, we received word from Attorney General Schneiderman that our Land Bank received a $1.7 million grant, the third largest grant in New York State, to continue efforts to stabilize and improve our neighborhoods. Now, we want to thank the Attorney General once again for providing $450,000 in additional grant funding to further boost our neighborhood revitalization efforts,” said Richard Ruzzo, Chairman of the Capital Region Land Bank and a member of the Schenectady County Legislature.

“Neighbors for Neighborhoods” is an innovative program aimed at improving the quality of rental housing. The program’s goal is to renovate vacant property by providing incentives to responsible local property owners to make investments in quality housing units.

The program requires landlords to live close to the property to be renovated and have a good track record. Eligible projects will receive funding from the Land Bank to upgrade vacant buildings turning them into assets for their neighborhoods. The focus is on single family homes and is limited to buildings with four rental units.

The Capital Region Land Bank has already lined up its first project at a vacant property at 308-310 Green Street. This four-unit property has been vacant and deteriorating for a number of years. It is located at the gateway to the Stockade Historic District in Schenectady. Mr. Brett Kennedy of Schenectady will complete an extensive restoration of the property and plans to live in one apartment and rent out three additional quality rental units. Mr. Kennedy has been researching historical pictures of the property to identify how to improve the façade to match the historic character of the surrounding area.

In Schenectady, the Capital Region Land Bank has partnered with Schenectady County, the City of Schenectady and Metroplex to demolish over 100 blighted buildings while improving dozens of homes and creating high quality housing in City neighborhoods. In Amsterdam, the Land Bank is currently working with the Amsterdam Housing Authority to renovate seven vacant residential properties and demolish blighted property in the City’s East End.

The Capital Region Land Bank serves the City of Schenectady, Schenectady County and the City of Amsterdam. More information including listings of homes and side lots for sale may be found at www.capitalregionlandbank.com.